UAE Business: Kuwaiti property investor GIH debuts on Abu Dhabi bourse – Gulf Digital News

UAE Business: Kuwaiti property investor GIH debuts on Abu Dhabi bourse – Gulf Digital News

Kuwait-based Gulf Investment House (GIH), a leading investor in real estate properties, yesterday (September 30) announced its successful dual listing on Abu Dhabi Securities Exchange (ADX).

The company has been listed on the Kuwait Boursa since May 2002 and has a market capitalisation of AED1.96 billion.

GIH is the first Kuwaiti company since the inception of the Kuwait Boursa to be listed in Abu Dhabi, it stated.

With this listing, the number of dual listing on ADX now stands at five.

Lauding the Kuwait group's move, ADX said the dual listing will help GIH to expand its investor base and liquidity in its shares.

GIH Chairman Abdulaziz Asaad Alsanad said with this listing GIH creates a new historical milestone in its journey represented in the inclusion of the company's shares on ADX, one of the most important and prominent regional markets, which has a market capitalization of more than AED2.2 trillion.

"GIH's aspirations in the board of directors are large and high, as Abu Dhabi represents an opportunity towards integration into a dynamic and diversified investment and economic environment characterized by high flexibility of growth and vast economic horizons full of opportunities," remarked Alsanad.

"This aspires us to establish an economic partnership with the private sector there,